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Yonhap News Summary

All Headlines 17:00 September 05, 2016

The following is the second summary of major stories moved by Yonhap News Agency on Monday.

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S. Korea manager predicts 'struggles' at 2017 World Baseball Classic

SEOUL -- With a dearth of quality pitching, South Korea will be in for a tough battle at next year's World Baseball Classic (WBC), the team's manager said Monday.

"It's difficult to predict the results, but I have a feeling we'll be struggling," said Kim In-sik, named the WBC manager for the third time in four tournaments.

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S. Korea to hold annual consultation meeting with Moody's

SEJONG -- The South Korean government will have an annual consultation with Moody's Corp. this week on the country's credit valuation, the finance ministry said Wednesday.

Led by Marie Diron, senior vice president at Moody's, the delegation will visit South Korea for meetings with the Ministry of Strategy and Finance from Monday to Wednesday.

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(LEAD) Recall of Note 7 may cut Samsung's H2 operating profit by 820 bln won

SEOUL -- The mass recall of the Galaxy Note 7 smartphones over faulty batteries is expected to cut Samsung Electronics Co.'s second-half operating profit by about 820 billion won (US$738.2 million), an analyst said Monday.

Samsung announced a global recall of the Note 7 smartphones on Friday after some of their batteries caught fire while being charged. Samsung also decided to replace all Note 7 smartphones sold to customers with new ones.

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Gov't to replace outdated water pipelines

SEJONG -- The South Korean government will invest a total of 1.8 trillion won (US$1.6 billion) to improve the worn out local water supply system over the coming 12 years, the finance ministry here said Monday.

The central government will inject money from the state budget starting from next year into the 3.1 trillion won-water supply modernization project, with provincial governments to shoulder the rest of the expenses, according to the Ministry of Strategy and Finance.

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PM vows to make more jobs for youth

SEOUL -- Prime Minister Hwang Kyo-ahn said Monday South Korea will continue pushing forward measures to create more jobs for young people, adding next year's budget will also focus on achieving such a goal.

"I feel obligated (to create more jobs), as the youth unemployment came to 9.2 percent in July, while many young South Koreans are feeling depressed due to the tough labor market conditions," Hwang said during his meeting with local youths.

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1 in 4 diseases contracted through blood transfusions is hepatitis C: study

SEOUL -- More than 1 in 4 diseases contracted through blood transfusions was found to be hepatitis C, a study showed Monday, amid concerns over the recent mass infection of the virus.

Three out of 13 cases of infections through the receiving of blood was hepatitis C, the study showed, after analyzing pathogenic organisms of diseases between 2006 and 2014.

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New agriculture minister vows efforts to boost farm exports

SEOUL -- New agriculture minister vowed Monday to develop the country's agriculture sector by boosting exports.

"Our agriculture industry is facing slow growth as the local market continues to open its doors while the rise in income of farm households also remains at a standstill," Kim Jae-soo said in a speech marking his first day on the job as the minister of agriculture, food and rural affairs.

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(2nd LD) N.K. fires off three Rodong missiles in show of force

SEOUL -- North Korea on Monday fired three ballistic missiles off its east coast, Seoul's Joint Chiefs of Staff (JCS) said, in a show of force days ahead of its key anniversary.

The communist regime launched the mid-range Rodong missiles from around Hwangju, North Hwanghae Province, around 12:14 p.m., a JCS official told reporters. A Rodong missile has a range of 1,300-1,500 kilometers and can strike Japanese territory.

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S. Korea's stock exchange reaching out to Taiwanese traders

SEOUL -- South Korea's bourse operator on Monday sought to attract more Taiwanese investors, saying the aggregate net profit of South Korea's listed firms is expected to hit an all-time high of 116 trillion won (US$104 billion) this year.

"South Korean shares will be a chance for Taiwanese investors to relish growth potential and stability simultaneously," Lee Yong-kook, a senior official at the Korea Stock Exchange (KRX), said in a forum held in Taipei, according to the KRX.

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(6th LD) Park, Xi reconfirm differences over THAAD, agree to strengthen communication

HANGZHOU, China -- President Park Geun-hye and her Chinese counterpart Xi Jinping on Monday reconfirmed their differences over the planned deployment of a U.S. anti-missile system to South Korea, but agreed to strengthen their "strategic communication," Park's office Cheong Wa Dae said.

During the summit on the sidelines of an economic forum in China's eastern city of Hangzhou, Park repeated that the need for a Terminal High-Altitude Area Defense (THAAD) system on the Korean Peninsula will disappear if North Korea's nuclear and missile threats are removed. She added that THAAD would only be aimed at the North and poses no threat to other countries.

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Actor Kim Woo-bin to go on Asian 'fan meeting' tour next month

SEOUL -- South Korean actor Kim Woo-bin will begin a tour of Asian countries to meet his overseas fans in October, his star agency said Monday.

The tour titled "2016 Kim Woo-bin Fan Meeting Spotlight" is scheduled to begin in Seoul on Oct. 3, taking the actor to China, Japan, Thailand, Taiwan and Hong Kong, Sidus HQ said in a release.

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(2nd LD) Gov't urges Hanjin Group to be 'responsible' for crippled cargo shipments

SEOUL -- South Korea's top financial regulator pressed the Hanjin Group on Monday to take full responsibility for the delivery of cargo under existing contracts signed by its affiliate Hanjin Shipping Co.

The nation's leading container shipping line filed for court receivership last week, succumbing to mounting debts amid an industry-wide slump. Many of the company's operations have since been crippled, with a number of foreign ports denying entry to Hanjin's ships.

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S. Korea condemns terrorist attack in Davao City, Philippines

SEOUL -- South Korea on Monday condemned a terrorist bombing attack in the Philippines that killed 14 people and injured 68 last week.

The blast hit a crowded night market in Davao City on Friday.

"Our government strongly denounces the terrorist bombing in the Philippines' Davao City," the Ministry of Foreign Affairs said in a statement. "Our government extends deep condolences and solace toward the innocent terrorist victims who lost their lives, and their bereaved families."
(END)

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